Dollar store retailers lead the country in big box retail openings, according to a study by Coresight Research, reports Fox Business. Coresight reviewed nearly 60 big box brands, noting the number of public store openings and closings during 2021.
“Dollar stores are leading store openings so far this year, continuing a trend we’ve seen for the last few years as this sector exploits a market opportunity, and it’s being driven in part by the longer-term bifurcation in the economy, where higher income customers are doing well, but lower income consumers are still on tight budgets,” Coresight Research’s Head of Global Research John Mercer said.
As of Friday, three dollar store chains comprised more than a third of all big box retail store openings this year. Dollar General is slated to open 1035 stores and close 18, while competitor Dollar Tree is set to open 393 locations and has not announced any closures this year. Family Dollar will open 198 doors and close 26 stores.